Quick follow up, this morning I got a good deal on the Piano Forte VIII and took the plunge. Like
@Wyville I have been meaning to try those out for a long while as even several years afterwards it remains a unique proposition (based on horn speakers design) that strays away from the mainstream approach both to design and signature. It's a lot more affordable as the price have dropped by more than 50% for the VIII since its release.
Anyway, I probably need to burn those 16mm drivers but first impressions : first, fit is better than I would have expected although I fiddled a bit at first because I tried to get a "locked" fit and it's not designed for it. It's a loose fit, the earpiece don't need to be flush (for that you'll need to keep them in place with your hands). Still, it holds pretty well in place even moving although it will fall out if you move vigorously. Anyway, given that there is not isolation those are meant to be used mainly at home or the office.
I was very curious at how they sound, the few reviews hinted that they sound very different from anything else and indeed they do... Final has fitted the VIII with a brass housing using the geometry of a horn speaker for a "soft, warm spatial representation" with a "richness and sense of realism" with a "well-rounded dynamism of the bass and the flamboyance of brass musical instruments such as saxophones." Does that hold true?
Well, the first listen (DX200/AMP1 Ti which is neutral) is a bit disconcerting, it's clearly not the "wow I love this" and more a "I am totally puzzled". The PF VIII sounded thin and distant... I expected the VIII to be fairly sensitive at 22ohms and 108dB, the first thing I quickly understood is that you have to push the volume way up (probably because there is no seal). That means I run at 85/90 on the DX200 low gain vs 55/60 with the Phantom. That's roughly the same volume level I ran the LCD i4. When I did that, things were much better.
The PF VIII have quite a wide soundstage, with average height and depth. It's not the huge soundstage I have read here and there but I'd say given the roll off both ways it's pretty impressive (if I should call the PF VIII and IEM).
The PF VIII are clearly mid centric, the bass roll off quickly and there is no sub there and the highs are along the same line it doesn't extend very high. Despite this, the mid bass is there alright and you can clearly feel that if those vent were closed and you got a seal it would probably be something like the EX1000 bass. It's very natural and what you don't have in terms of quantity you get in quality : the bass has plenty of texture and puzzingly enough it's faster than I would have expected. I quite enjoy the naturalness of the bass.
Now the mids, which are the star of the show are clearly tuned for clarity with an emphasis on the upper mids, there is good percussive attack and vocals especially female vocals are delightful. Those are exciting mids, with maybe too much bite for my taste, but there is a real delight to brass and woodwinds, the crash of cymbals or the timbre of saxophone are really a treat. There are some hints of sibilance which is coherent with the signature. The lower mids are leaner, I would have liked more fullness in there but maybe I am skewed by the time I spend with the VE8 and Phantom. I feel male vocals lack some "chest" and power.
Lastly the highs don't extend very high but lower treble are clearly tuned for definition (which is quite good) and excitement, although they remain smooth and thankfully never harsh.
Overall this makes for a brighter signature than I care for, and if not for the open design this would have meant fatiguing earphones (that's an interesting paradox as I have listened for the PF VIII 4 hours straight and despite the signature : no fatigue). Despite being a tad too bright for my taste, it sound really natural and that's a bit puzzling to me that they're both bright yet smooth. I don't know if that makes sense. We'll see if burn in does shift things a bit.
In the meantime I did some amp rolling with the DX200, especially with the warmest AMP but still not warm enough. Switching from DX200 to Mojo things were much more pleasing, both mid bass and lower mids gain some welcome fullness and make for a smoother experience, balancing the brighter tuning. I guess I would have prefered the Piano Forte X (chromium copper housing, smoother signature) but the price is 4x which is a nogo to me.
The PF VIII crave jazz from brass band to vocal jazz and classical, or female singer Folk rather than pop, rock or blues. It's everything but an all rounder.